Amex Points vs. Chase Points [2025]: Which Rewards are Most Worth the Effort?

Some of the most valuable points you can earn with credit cards are from American Express and Chase.

While airline miles and hotel points can be wonderful, they can generally only be redeemed through those brands. Amex Membership Rewards and Chase Ultimate Rewards can be redeemed in multiple ways giving you more flexibility and choices — and potentially more value.

But getting the most out of your points often means committing to one rewards program. When it comes to Amex points vs. Chase points, how do you choose? Or do you have to?

Which is best for you: Amex points or Chase points?

When deciding between the Amex Membership Rewards program vs. Chase points, the "right" choice will be personal, based on your lifestyle, spending, and travel habits. If it were me, I actually wouldn't choose — I would use both.

When you should choose Amex points

• You like the simplicity of being able to automatically combine points from multiple cards.
• You prefer flying with one or more of the 15 airline partners, like Delta, JetBlue, and British Airways.

Learn more about Amex points.

When you should choose Chase points

• You prefer flying with United, Southwest, or one of Chase's other airline partners.
• You want a cash back option.

Learn more about Chase points.

When you should utilize both

It's worth noting that you don't have to choose when it comes to Amex and Chase points. Many of the savviest points collectors use both credit card issuers to rack up points within both ecosystems.

If you're serious about collecting points, I would recommend getting both types of cards and using them strategically to earn points by spending in different categories. This can help you maximize the number of points you earn, and it also gives you access to all of the partners offered by both Amex and Chase.

Plus, you can also take advantage of different bonuses offered by the two issuers. For example, maybe Chase is offering a bonus on Marriott Bonvoy right when you're trying to book a trip, but Amex is running the typical 1:1 transfer rate. You could choose to use Chase points for that particular transaction to maximize your redemption value.

At the end of the day, utilizing both Amex and Chase points gives you more options across the board.

Deeper comparison: Amex vs Chase points

If you're still not sure which to go with, let's take a deeper look at key differences between Amex and Chase points.

How much are Amex points and Chase points worth?

According to feedback from our community, Amex points and Chase points are both worth an average of 2 cents each. This will vary depending on how you redeem them through the issuer or with their respective partners. Each card issuer offers numerous options for redemption, and the values for each method vary.

This chart breaks down the potential value you can expect to receive based on which redemption options you choose. Remember that you don't have to redeem all your points at once, and you can select multiple methods of redeeming points. Also, some of these values can vary, but they give you a general idea of what you can expect to receive.

Amex and Chase transfer partners

Amex and Chase allow you to convert your flexible points into airline miles and hotel points in the loyalty programs of multiple airline and hotel transfer partners. Transfers allow you to book reservations for a potentially higher value than you would get by booking travel using your points like cash.

The table below shows the current travel partners for each program. You'll notice some overlap, but the majority of the partners are exclusive to each card issuer. Many travelers pick the flexible points they want to earn based on their favorite airline and hotel loyalty brands. For example, I often fly Southwest and United, so Chase is more attractive to me. But Amex may make more sense if you are, say, a member of Delta and Hilton Honors rewards programs.

Amex and Chase travel portals

Amex and Chase let you book travel with cash, points, or a combination of the two through their travel portals. Each portal has its pros and cons that you should consider when booking travel.

Amex Travel

When booking with the Amex Travel portal, the value of your points depends on what type of reservation you're trying to make. Points are worth 0.7 cents each when booking prepaid hotel rooms, prepaid car rentals, cruises, and vacation packages. Points are worth 1 cent each if redeemed for airfare, flight upgrades, and Fine Hotels & Resorts. You cannot book tours, Airbnb, shuttles, or other types of travel reservations with your points.

Fine Hotels & Resorts is an exclusive program available to The Platinum Card^® from American Express cardmembers. These reservations include perks similar to those you get by having elite status in hotel loyalty programs, such as early check-in, room upgrades, and daily complimentary breakfast for two.

When booking with cash, certain Amex credit cards earn bonus points when using Amex Travel to make your reservations. For example, the Amex Platinum Card offers 5X points on flights booked directly with airlines or with American Express Travel® (on up to $500,000 per calendar year, after that 1X) and prepaid hotels booked with American Express Travel®.

Chase Travel Portal

Through the Chase travel portal, you can book flights, hotels and vacation rentals, rental cars, cruises, activities, and more. The value of your points ranges from 1 cent to 1.5 cents, depending on which credit card you have. Ultimate Rewards travel reservations can be paid for with points, cash, or a combination of the two.

When booking reservations in cash through the portal, you'll earn rewards based on the card you use to pay for the trip.

For example, if you pay with the Chase Sapphire Reserve^®, you would earn 10X back on hotels and car rentals purchased through Chase Travel℠ (after the first $300 is spent on travel purchases annually) and 5X back on flights purchased through Chase Travel℠ (after the first $300 is spent on travel purchases annually).

Pooling and transferring points

No matter how many personal or small business American Express cards you have, all your points are automatically pooled into one account. (If they aren't, an American Express customer service agent can link your accounts for you.) I really like this feature as it allows you to easily combine points for larger purchases and redemptions. Plus, if one of your accounts is closed, you will not lose any of the points in your pool.

Chase allows points to be pooled, but you have to transfer them between accounts manually. To me, this is a bit more cumbersome. Whichever card holds the points determines their value and the available redemption options. For example, points earned with the Chase Freedom Unlimited^® are worth 1 cent through the Chase Travel portal and cannot be transferred to a Chase partner.

However, when those points are transferred to the Chase Sapphire Preferred^® Card, Chase Sapphire Reserve, or Ink Business Preferred^® Credit Card, partner transfer options become available, and you can book travel through Chase Travel℠ at up to 1.5 cents per point.

The best cards to earn Amex Membership Rewards

American Express offers many personal and small business cards that earn Membership Rewards points. Here are some of the best American Express credit cards for earning Membership Rewards:

• American Express^® Gold Card
• American Express^® Green Card
• The Platinum Card^® from American Express
• The Blue Business^® Plus Credit Card from American Express
• The Business Platinum Card^® from American Express
• American Express^® Business Gold Card

Many of these cards offer enhanced earnings in select categories and valuable perks and benefits to cardholders. Some Amex cards have no annual fee, while others have annual fees that reach hundreds of dollars.

Welcome bonuses are a way to quickly earn a massive amount of Membership Rewards points. For example, here is the current welcome offer for the Amex Platinum: Earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases on your new card in the first 6 months.

The American Express^® Gold Card is also very popular because it earns 4X Membership Rewards points at restaurants worldwide (up to $50,000 per year, after that 1X), 4X at U.S. supermarkets (up to $25,000 per year, after that 1X), 3X on flights booked directly with airlines or on AmexTravel.com, 2X on prepaid hotels and other eligible purchases booked on AmexTravel.com, and 1X on all other eligible purchases.

The Amex Gold also features an attractive welcome offer: Earn 60,000 Membership Rewards Points after you spend $6,000 on eligible purchases within the first 6 months of card membership. Terms apply.

Check out our American Express Gold Card review for more details.

The best cards to earn Chase Ultimate Rewards

Chase offers a variety of personal and small business credit cards that earn Ultimate Rewards points. Here are some of the most popular:

• Chase Freedom Unlimited^®
• Chase Sapphire Preferred^® Card
• Chase Sapphire Reserve^®
• Chase Freedom Flex^®
• Ink Business Unlimited^® Credit Card
• Ink Business Preferred^® Credit Card

These cards range from no-annual-fee cash back cards to luxury travel cards like the Chase Sapphire Reserve card, which comes with premium benefits and a luxury price tag ($550 annual fee).

Chase credit cards primarily earn Ultimate Rewards points in two ways: the one-time welcome offer and everyday spending. One-time bonuses when you first apply can offer substantial rewards if you meet the requirements, typically within a few months of card membership.

The Chase Freedom Unlimited is an excellent $0 annual fee card for everyday purchases. It earns 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases.

The Chase Sapphire Preferred card is one of my personal favorites and one of the best travel credit cards out there. It is currently offering a welcome bonus: Earn 60,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's worth $750 when used to book travel through Chase Travel℠.

Check out our Chase Sapphire Preferred review for more details.

FAQs

Bottom line

American Express Membership Rewards and Chase Ultimate Rewards are both top-rated rewards programs. Cardholders love how they can earn these points with multiple credit cards and combine their points balances for larger redemptions. Both of these programs are winners with some of the best credit cards on the market. The choice of which program you focus on should be a personal decision based on how you prefer to earn and redeem your rewards and which transfer partners you like better.

The good thing is you don't have to choose just one. Instead of thinking about Amex points vs. Chase points, you could choose to earn both to take advantage of the sweet spots in both loyalty programs and maximize your spending, rewards, and benefits. You could even consider working in another rewards program, such as Citi ThankYou Points, and reap the benefits of all three programs.

Great for Flexible Travel Rewards

Chase Sapphire Preferred^® Card

4.9

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Chase Sapphire Preferred^® Card

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Rates and fees

Current Offer

Earn 60,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Annual Fee

$95

Rewards Rate

5X points on travel purchased through Chase Travel℠; 3X points on dining, select streaming services, and online groceries; 2X points on all other travel purchases, and 1X points on all other purchases

Benefits and Drawbacks

Benefits

• Generous welcome offer valued at $750 when redeemed via Chase Travel℠
• High rewards on dining and bookings via Chase Travel
• 25% more value when redeeming points for travel through Chase Travel
• Up to $50 in statement credits each account anniversary year for hotel stays booked through Chase Travel
• Receive valuable travel protections like trip delay reimbursement and primary rental car insurance

Drawbacks

• Has a $95 annual fee
• Doesn’t offer airport lounge access or premium travel perks like Global Entry or TSA PreCheck credit
• Doesn't offer bonus points on gas or in-person groceries purchases

Card Details

• Earn 60,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
• 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
• Member FDIC

Author Details

Ben Walker, CEPF, CFEI®

Ben Walker, CEPF, CFEI®, is credit cards specialist. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.

Author Details

Lisa Dammeyer

Lisa Dammeyer is a writer for FinanceBuzz and an accomplished editor focused on personal finance and investing. She got her start in the finance industry in 2020 when she worked at a stock market news website. In that role, she helped lead a team of editors as they covered the biggest news stories in the market each day.